On The Wire: Today's Top Stories In Finance & Tech

Your daily briefing of some of the most important stories from the crypto, finance, and tech space.

The daily news roundup from REX Wire

Welcome to your daily briefing, where we bring you stories from the forefront of finance, technology, and market analysis, sent directly to your inbox.

In today's roundup, we provide our regular Monday market outlook, plus give some special attention to the stats from the first two days of bitcoin ETF trading. The EU is deciding its strategic spending priorities for the coming decade, and the Fed is struggling to remain apolitical as it charts its own path for 2024. Tether has a growing money laundering problem, and Houthi attacks in the Red Sea could be the next source of resurgent inflation.

Federal Reserve's Rate Decisions Amid 2024 Election Year

In 2024, the Federal Reserve plans to cut interest rates and halt balance sheet reduction, coinciding with the US election year. This shift could spotlight the Fed in politics, especially with inflation easing and mortgage rates affecting economic sentiment.

Federal Reserve’s Rate Decisions Amid 2024 Election Year
The Fed’s anticipated rate cuts in 2024 coincide with the US election, raising questions about its impact on politics.

Tether's Growing Use In Money Laundering

The UN has warned about Tether's growing use in money laundering across South-East Asia. The report highlights its role in scams, like "pig butchering", and the challenges in regulating such activities. Despite crackdowns, Tether remains a favored tool for criminals, raising concerns over its impact on financial systems.

Tether’s Growing Use In Money Laundering
The UN report warns of Tether’s increasing use in money laundering and scams in South-East Asia.

Charting The Course For The Next EU Budget

As the EU approaches its February 2024 summit, discussions focus on the next budget, emphasizing strategic investments for 2024-2034. Key priorities include Ukraine's EU membership, decarbonizing the economy, digitizing infrastructure, and bolstering defense, with potential shifts in funding approaches and budget composition.

Charting The Course For The Next EU Budget
The EU debates a larger, strategically focused budget for 2024-2034, prioritizing defense, digitization, and Ukraine support.

Bitcoin ETFs: What's The Current State Of Play?

Two days, $4.6 billion trading volumes, $800 million net inflows, and many thousands of bitcoins later, and already clear that the new ETFs launches have been a staggering success.

Bitcoin ETFs: What’s The Current State Of Play?
ETFs experienced over $800 million of net inflows in their first two days, or almost 19,000 BTC.

Red Sea Conflict Could Push Inflation Up Again, Warns Economist

The new threat comes as inflation was cooling, following the disruption to supply chains caused by COVID and the increase in prices brought about by Russia's invasion of Ukraine.

Red Sea Conflict Could Push Inflation Up Again, Warns Economist
Strikes by Houthi rebels is prompting shipping companies to change their routes, adding thousands of miles to their journeys.

January 15 REX Wire Market Outlook

CPI comes in hot, raising the possibility of slow interest rate cuts in the coming year. Meanwhile, bitcoin ETFs have had a storming start, but the spot market is still down 15%.

January 15 REX Wire Market Outlook
Above-expectation inflation provided some headwinds, but bitcoin’s correction had more to it than poor CPI figures.

Rising Insolvencies In Germany

German companies face an uptick in insolvencies in 2024, driven by high energy costs, economic stagnation, and the end of Covid-19 aid. Insolvencies are expected to increase by 10-30%, affecting businesses across sectors, with notable companies like Haba and Bree filing for bankruptcy.

Rising Insolvencies In Germany
German insolvencies rise as pandemic aid ends and economic challenges mount, impacting major companies.

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